Massachusetts Regulators Probe Bear Stearns Funds

Law360, New York (October 19, 2007, 12:00 AM EDT) -- Regulators in Massachusetts are looking into possible improper trading done by Bear Stearns & Co. with two of its hedge funds that failed earlier this year, a representative for the Massachusetts secretary of state said Friday.

Brian McNiff, a spokesman for William F. Galvin, secretary of the Commonwealth of Massachusetts, confirmed the Bear Stearns probe Friday but refused to comment further.

The investigation, which was first reported by The Wall Street Journal, is primarily focused on whether the financial services firm made trades for its own...
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